Category Archives: Economics

A new life or an old life?

(featured image credits: Jenny Mealing CC BY and Dr KontogianniIVF) One of the fundamentals of economics is also a fundamental of life. It involves cake and eating. Most people know pretty well what actions are needed to make babies. But … Continue reading

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Our skin in their game

(featured image credit: Pilots of Swiss CC BY) An economic term for the wrongs of the world One Friday, a long time ago, I was fortunate enough to travel in the jump seat on the flight deck of a Boeing … Continue reading

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When the material meets the immaterial

(featured image credit: Mr Blue MauMau CC BY) With incentives, things are not always what they seem “Most of economics can be summarized in four words: ‘People respond to incentives.’ The rest is commentary,” Steven Landsburg writes on the very … Continue reading

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The value of a discount

(featured image credit: Miguel Tejada-Flores) When money off is worth more than money alone   What is the last item you bought? Maybe a coffee, a pack of bin bags during your weekly shop, or a vacuum cleaner. What was … Continue reading

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In whose interest?

(featured image credit: gaelx CC BY) The relationship between charitable giving and nudging is an uneasy one Charitable giving is a challenging phenomenon for neoclassical economics. What homo economicus, what rational, self-interested, utility maximizing would willingly give money away? It could … Continue reading

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Economics in your thoughts

Economic thinking is not just about objective costs and benefits – it is also about your very thoughts You’re driving along a road in town, and in the distance you can see a pedestrian crossing, protected by traffic lights. A … Continue reading

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Bags of nudges

(featured image credit: Mitchell Haindfield CC BY) The British government is planning to double the charge for single-use plastic shopping bags, to reduce their usage further. Will this work? I am pretty sure that you, like so many environmentally conscious … Continue reading

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